VATupdate

GST Rates in Singapore

Quick overview

Standard Rate Reduced Rate Other Rates
7% N/A 0%, Exempt

The local name for GST in Singapore is Goods and services tax.

There are basically 1 VAT rate in Singapore, a Standard VAT rate of 7%

Recent developments

For more information about (recent) rate change developments in Singapore, please click HERE.

The Singapore government has announced that the standard rate of GST will be raised by two percentage points, from 7% to 9%, sometime in the period from 2022 to 2025.

Standard rate: 7%

This rate applies for all transactions that take place in Singapore, unless an exception applies (such as a reduced rate, the zero rate or an exemption, or a reason to treat the transaction as outside scope of GST).

Zero rate (0%)

Examples of goods and services taxed at 0%

  • Exports of goods and international services

Examples of exempt supplies of goods and services

The term “exempt” refers to supplies of goods and services that are not liable to GST and that do not qualify for input tax deduction.

  • Sale or lease of residential property
  • Importation or supply of investment precious metals
  • Certain financial transactions

A global VAT/GST rate overview can be found here (note this is a work in progress).

This post was last updated on August 20, 2021.

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